Kanohar Electricals IPO GMP today is Rs 192. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
KANOHAR
Kanohar Electricals IPO GMP & Allotment
Kanohar Electricals manufactures five custom transformer types (power, traction, Scott, shunt reactors, and distribution) across two Meerut facilities. Serving high-growth transmission, railway, and renewable sectors, it also provides turnkey substation and transmission line EPC solutions. Most revenue is driven by these core segments and secured through government and state utility tenders.
- IPO Price Band
- ₹601.00 - ₹632.00
- Lot Size
- 23 Shares
- Bidding Closes
- 10 Sept 2026
- Listing Date
- 16 Sept 2026
Current GMP Status
₹192
+30.38% vs upper band
Est. Listing Gain
+6.34%
Last Trend
16 Sept 2026
Listing Price
₹672.05
Retail Entry
₹14,536
IPO Details
Complete IPO information
| IPO Open Date | 08 Sept 2026 |
|---|---|
| IPO Close Date | 10 Sept 2026 |
| IPO Price Band | ₹601.00 - ₹632.00 |
| Lot Size | 23 Shares |
| Current GMP | ₹192 |
| Estimated Listing Gain | +6.34% |
| Issue Size | Approx ₹1,055.74 Cr |
| Fresh Issue | Approx ₹300 Cr |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| Retail Quota | TBA |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Overall Subscription | 90.59x |
| Minimum Investment | ₹14,536 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 33.41 | 7195.40 | 215.37x |
| NII | 25.06 | 2198.49 | 87.74x |
| Retail | 58.47 | 1198.99 | 20.51x |
| Overall Subscription | 116.93 | 10592.88 | 90.59x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Kanohar Electricals is priced at ₹632 per share. With a minimum lot size of 23 shares, a retail investor applying for one lot would need approximately ₹14,536 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Kanohar Electricals stands at ₹192, implying an estimated listing gain of around 30.38% over the issue price if it holds until listing. This is down ₹31 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Kanohar Electricals's IPO was subscribed 90.59x overall, with a category-wise breakdown of Retail 20.51x, QIB 215.37x, NII 87.74x.
Among the strengths highlighted in Kanohar Electricals's IPO documents: Strong order book standing at ₹1818.32 crores as of March 31, 2026.; Proven track record of executing large-scale turnkey EPC projects for government entities..
Investors should also weigh the risk factors Kanohar Electricals has disclosed, including: High customer concentration with the top 10 clients contributing 93.16% of total revenue..
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
08 Sept 2026
✓
Bidding Closes
10 Sept 2026
✓
Allotment
11 Sept 2026
✓
Listing
16 Sept 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 16 Sept 2026 | ₹192.00 | -₹31.00 | 30.38% |
| 10 Sept 2026 | ₹223.00 | +₹5.00 | 35.28% |
| 09 Sept 2026 | ₹218.00 | +₹20.00 | 34.49% |
| 08 Sept 2026 | ₹198.00 | -₹7.00 | 31.33% |
| 07 Sept 2026 | ₹205.00 | - | 32.44% |
| 06 Sept 2026 | ₹205.00 | - | 32.44% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 23 | ₹14,536 |
| Retail Maximum | 13 Lot | 299 | ₹1,88,968 |
| S-HNI Minimum | 14 Lot | 322 | ₹2,03,504 |
| S-HNI Maximum | 68 Lot | 1,564 | ₹9,88,448 |
| B-HNI Minimum | 69 Lot | 1,587 | ₹10,02,984 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Strong order book standing at ₹1818.32 crores as of March 31, 2026.
- Proven track record of executing large-scale turnkey EPC projects for government entities.
- Comprehensive in-house manufacturing capabilities at the Rithani and Gangol facilities.
- Specialized product portfolio catering to high-growth sectors like railways and renewable energy.
- Successful development and short-circuit testing of advanced 500 MVA and Scott transformers
Risks
- High customer concentration with the top 10 clients contributing 93.16% of total revenue.
- Heavy reliance on government tenders exposes the business to disqualification and blacklisting risks.
- Business operations are geographically concentrated around the Meerut manufacturing facilities.
- The absence of long-term contracts with raw material suppliers exposes the company to pricing volatility.
- History of negative cash flows from operating, investing, and financing activities.
Analysis
Kanohar Electricals IPO Reservation
The Kanohar Electricals IPO reservation is divided among anchor investors, qualified institutional buyers (QIB), non-institutional investors (NII), and retail investors. Retail investors have been allocated 35% of the offered shares, while institutional investors receive a significant portion of the issue.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| Anchor Investor | 50,11,424 Shares | 30% |
| QIB (Ex. Anchor) | 33,40,950 Shares | 20% |
| NII Shares Offered | 25,05,713 Shares | 15% |
| Retail Shares Offered | 58,46,663 Shares | 35% |
Note: The IPO reservation percentages and share quantities are based on the provided Kanohar Electricals IPO details and may be updated in the final offer documents.
Analysis
Kanohar Electricals IPO Anchor Investors
The Kanohar Electricals IPO anchor investors portion was allocated ahead of the public issue. A total of 50,11,424 shares were offered to anchor investors, with the anchor bidding scheduled for September 7, 2026.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 7, 2026 |
| Anchor Investors List | |
| Shares Offered | 50,11,424 Shares |
| Anchor Size | ₹316.72 Cr. |
| Lock-in End Date – 50% Shares (30 Days) | October 11, 2026 |
| Lock-in End Date – 50% Shares (90 Days) | December 10, 2026 |
Note: Anchor investor allocation and lock-in details are based on the provided Kanohar Electricals IPO information. The anchor investor list can be viewed in the linked PDF.
Analysis
Kanohar Electricals IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 08 Sept 2026 |
| IPO Close Date | 10 Sept 2026 |
| Basis of Allotment | 11 Sept 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 16 Sept 2026 |
Note: The timeline for Kanohar Electricals IPO is tentative and subject to change.
Analysis
Kanohar Electricals IPO Promoters and Holding Pattern
The promoters of Kanohar Electricals are Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal and Aditya Singhal. The table below shows the shareholding pattern before and after the IPO.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 74,231,991 | 99.72% | 62,274,076 | 78.64% |
| Others* | 208,009 | 0.28% | 16,912,759 | 21.36% |
| Total | 7,44,40,000 | 100% | 79,186,835 | 100% |
Note: The post-IPO shareholding reflects the expected ownership structure after completion of the issue.
Analysis
Kanohar Electricals Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Analysis
Kanohar Electricals About Ipo
Kanohar Electrical Ltd is one of the leading companies in transformer manufacturing in India, catering to a diverse range of end-user industries,
including power transmission, railways, renewable energy, and power distribution. The Company operates across two principal business segments (i) transformer manufacturing and (ii) engineering, procurement and construction (EPC) services. It is among the four manufacturers in India certified by the Research Designs and Standards Organisation (RDSO), the research and development organisation of Indian Railways, for the manufacture of 100 MVA, 132 kV Scott transformers.
Kanohar Electricals Limited operates two manufacturing facilities situated
at Rithani and Gangol in Meerut, Uttar Pradesh. As of September 30, 2025,
these facilities had a combined transformer manufacturing capacity of
19,200 MVA.
Analysis
Kanohar Electricals Company Financials
To Be Updated Soon
Analysis
Kanohar Electricals Company Valuation – FY2026
To Be Updated Soon
Analysis
Kanohar Electricals IPO Peer Group Comparison
To Be Updated Soon
Analysis
Kanohar Electricals IPO Lead Managers aka Merchant Bankers
- Nuvama Wealth Management Ltd.
- IIFL Capital Services Ltd.
Comparison
Compare Kanohar Electricals IPO with similar IPOs
FAQ
Kanohar Electricals IPO FAQs
Kanohar Electricals IPO price band is Rs 601.00 to Rs 632.00. Check the latest issue price, lot size and GMP together before applying.
Kanohar Electricals IPO open date is 08 Sept 2026, close date is 10 Sept 2026, and listing date is 16 Sept 2026.
Kanohar Electricals IPO lot size is 23 shares. The minimum retail investment is Rs 14,536.
Kanohar Electricals is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Kanohar Electricals IPO subscription status currently shows Retail 20.51x, QIB 215.37x, NII 87.74x, Overall 90.59x.
Kanohar Electricals manufactures five custom transformer types (power, traction, Scott, shunt reactors, and distribution) across two Meerut facilities. Serving high-growth transmission, railway, and renewable sectors, it also provides turnkey substation and transmission line EPC solutions. Most revenue is driven by these core segments and secured through government and state utility tenders.
Kanohar Electricals IPO issue size is 1055.74 and the expected allotment date is 11 Sept 2026.
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